The Federation of Automobile Dealers Associations (FADA) held its first Finance and Insurance Summit, 2022 in Mumbai today. The summit was organised to bring the industry leaders on one platform to discuss the ongoing opportunities and challenges in the Indian automobile industry with reference to finance and insurance.
The event saw participation from Ashish Kumar Singh, IAS, Additional Chief Secretary (Transport & Ports), government of Maharashtra; B Ganesh Kumar, founder & CEO, Kuwy Technology Service ; Rajan Pental, senior Group president & global head – Retail Banking Yes Bank; Ramesh Iyer, chairman, FIDC & MD, Mahindra Finance and Amar J Sheth, state chairperson Maharashtra; Vinkesh Gulati, president, Federation of Automobile Dealers Associations (FADA) and Manish Raj Singhania, VP, FADA led the sessions along with other FADA dignitaries.
Vinkesh Gulati said, “Throughout their existence, finance & insurance (F&I) have been the backbone of the Indian economy. In recent years, the sector has made enormous contribution to the growth of the Indian automobile industry and the dealer community. Dealerships are a dynamic business and need finance support every off and on, the sector has really given us the best of their support we needed from them. Insurance and finance industry holds a significant role in revitalising the confidence of the industry both on supply and demand sides. As a representative of the entire fraternity, I would like to thank you for your continued support of our business model and giving it the trust it deserves. As we move forward, I assure you the dealer community will do its best to make this relation efficient and drive the sector forward.”
The objective of the summit was to bring industry leaders together at one platform to explore future trends. The summit and award ceremony witnessed the participation of over 317 auto retailers and delegates representatives from Maharashtra region.